Midstream Builds in a Bearish Market
Midstream companies are sticking to long term plans for an expanded customer base, despite low gas prices, high storage levels and an uncertain political LNG future.
Aramco in Talks for U.S. LNG Projects as Mideast Gas Race Heats Up
Saudi state company in discussions with a number of entities Others in the region are also betting big on the LNG sector Saudi Aramco is in talks with companies for liquefied natural gas projects in the US as it looks to the fuel for global growth at a time when rivals in the region are also expanding …
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Coast Guard Says No Sheen Left After Potential Oil Spill Near LA
The US Coast Guard said Saturday no remaining sheen was observed on Pacific waters following reports of a potential oil spill south of Los Angeles near Huntington Beach. Officials on Friday responded to an oily sheen 2.5 miles (4 kilometers) long and 0.5 miles wide near the Emmy and Eva oil platforms, about 2.8 miles off Huntington …
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Aramco Hikes Dividend 30% to $98 Billion Despite Drop in Profit
Summary Profit drops by nearly a quarter Base dividend up 4% year on year Capex seen at $48-58 bln in 2024 Share sale is govt decision – CFO DUBAI, March 10 (Reuters) – Saudi Arabia’s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices …
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Exxon-Chevron Battle in Guyana Roils Hedge Funds
Traders are finding out the hard way that profiting off a big oil discovery can be messy. Bloomberg One of the biggest oil deals of the past year is throwing up some nasty surprises for a group of hedge funds. Chevron Corp. agreed in October to acquire Hess Corp. for $53 billion. The transaction stands …
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California Investigates Potential Offshore Oil Spill Near Los Angeles
Amplify, California Resources deny connection to possible leak Investigation focused on area near site of 2021 crude spill California officials are investigating a potential oil spill south of Los Angeles near Huntington Beach, close to where a serious offshore leak occurred in 2021. The US Coast Guard on Friday reported an oily sheen 2.5 miles (4 kilometers) …
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U.S. Pause on New LNG Export Licenses May Last Months Under Review
Responding to public comments, analysis to take time: US DoE American official says US is focused on Japan energy security Bloomberg The Biden administration’s pause on new liquefied natural gas export licenses could last months as the Department of Energy reviews the issue, according to a US energy official. “We anticipate the analysis that’s underway …
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U.S. Drillers Cut Oil and Gas Rigs for First Time in Three Weeks – Baker Hughes
March 8 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, …
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TC Energy Briefly Shut Keystone Oil Pipeline on Unfounded Leak Concern
(Reuters) – TC Energy temporarily shut down the Keystone oil pipeline on Thursday to investigate a South Dakota landowner’s report about a possible leak that proved unfounded, the Canadian company and a U.S. pipeline regulator said on Friday. TC told the Pipeline and Hazardous Materials Safety Administration (PHMSA) about the reported leak and conducted aerial observation …
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Oil Dips 1%, Posts Weekly Loss as Markets Weigh Chinese Demand
(Reuters) – Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, …
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